Underwater Home Owners have quite a few loan workout options, the major options are:
- Loan Modification
- Short Sale
- Foreclosure which is more passive or Strategic Default
- Short Payoff without a Sale
- Forbearance
- Bankruptcy
- Underwater Real Estate.com two step short sale in which a short payoff on the second is negotiated first
- Hybrid Short Payoff and Short Sale
- Deed in lease (a very limited new HUD program)
Most Underwater homeowners have at least 3 major concerns
- Will they be liable for their loan balances?
- Will they be responsible for taxes on the 1099s they will receive?
- How do they minimize damage to their credit… and some must avoid foreclosure.
Keys to successfully closing short sales.
1. Organized, properly structured short sale packages… if you are not pre positioning your clients package for your lenders… your files will get hammered.
2. Consistent friendly followup.
3. Once in a while you have to know when to escalate and leverage the law. (in our experience you only want to do this on solid short sale candidates otherwise the lenders may become more aggressive and put your client in the cross hairs of a lawsuit which will eventually drag you into it.
4. Proper Client selection and effective lead generation.
5. Educated non fearful clients who know they are in good hands and whose expectations are properly set.
6. Proper screening of buyers and buyers agents. (You have to know when you need to doubleside the transaction.)
Our UnderwaterRealEstate.com’s Certifed Advisor™ Program has been designed to make the above automatic.
Certified Advisor™ Program
- Our Certified Advisors™ have the best software in the industry.
- Clients prepare and update their short packages in a very timely manner.
- Certified Advisors™ are educated and trained in the procedures which get short sales approved quickly.
- Certified Advisors™ and their clients are taught how to leverage the law when necessary.
- Certified Advisors™ are taught proven marketing techniques, to increase business, and bring their own buyers.
- Certified Advisors™ can optionally introduce short sales to be negotiated by our law firm. (see our premium membership – which is currently included at this level)
- Short Sales strategies are always changing and our weekly webinars update our Realtors on the best current strategies.
- Certified Advisors™ learn how to help more clients achieve their goals, which leads to more referrals.
- Clients of our Certified Advisors have their questions Answered at our UnderwaterRealEstate.com Client Portal
- Clients in certain states have the Option to retain our Law Firm to review their options or approval letters at preferred rates. (again see our premium membership)
Elevate your career today, and join the ranks of the most successful agents. Start down the path of becoming a Certified Advisor™
You can cancel at any time with 30 day notice.
Month to Month subscription, no contracts.
You will love the software, the training, and the support of being a Certified Advisor™ or you may cancel at any time.